Evolution of Options Pricing Theory and Market Adoption (1973-1990)

1. Merton publishes rational option pricing theory

   Jan 1, 1973Labels: Robert C, Rational option

   • EconPapers
   • ScienceDirect

2. Options Clearing Corporation founded to guarantee trades

   Jan 1, 1973Labels: Options Clearing, Clearinghouse

   • OCC Annual
   • OCC Wiki

3. SEC authorizes listed options pilot program

   Feb 1, 1973Labels: U S, Listed options

   • SEC Release

4. CBOE opens as first listed options exchange

   Apr 26, 1973Labels: CBOE, Listed options

   • Cboe Wiki
   • OCC Report

5. Black–Scholes option pricing paper published

   May 1, 1973Labels: Black Scholes, Fischer Black

   • EconPapers
   • EconBiz

6. SEC moratorium slows expansion of listed options

   Jan 1, 1977Labels: U S, Regulatory moratorium

   • SEC Archive

7. Exchange-listed put options introduced

   Jun 1, 1977Labels: Put options, U S

   • CMT Assn
   • SEC Archive

8. Cox–Ross–Rubinstein binomial model published

   Jan 1, 1979Labels: Cox Ross, Binomial model

   • EconBiz
   • Binomial Wiki

9. CBOE launches first broad stock index options

   Mar 11, 1983Labels: CBOE, Index options

   • SEC Archive
   • AmericanBanker

10. S&P 500 index options begin trading at CBOE

    Jul 1, 1983Labels: S&P 500, SPX options

    • S P DJI
    • SEC Archive

11. Cox–Ingersoll–Ross interest-rate term structure model published

    Jan 1, 1985Labels: Cox Ingersoll, Interest-rate model

    • EconPapers

12. CBOE introduces the VIX volatility index

    Jan 19, 1993Labels: VIX, CBOE

    • UPI Archive
    • Cboe Wiki